Linklaters advises on UI Boustead REIT’s S$973.6m IPO in Singapore

Linklaters acted as international counsel to the underwriters on the successful initial public offering (IPO) of UI Boustead REIT on the main board of the Singapore Stock Exchange (SGX). It is the first mainboard and REIT listing on the SGX in 2026.

The IPO raised approximately S$973.6m (US$764m), making it Singapore’s largest IPO to date this year.

UI Boustead REIT is a real estate investment trust investing in logistics, industrial, business space and other real estate-related assets in the Asia Pacific. Its initial portfolio comprises 23 properties in Singapore and Japan, including Rolls Royce Solutions Asia in Singapore, with a total agreed property value of approximately S$1.9bn.

The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh, with support from counsel Joseph Wolpin.